This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RehabCare Reports First Quarter 2011 Results

RehabCare Group, Inc. (NYSE:RHB) today reported the following financial results:

           
First Fourth First
Quarter Quarter Quarter
Amounts in millions, except per share data 2011 2010 2010
 
Consolidated Operating Revenues $ 364.6 $ 339.3 $ 322.0
Consolidated Operating Earnings (a) 37.8 36.1 31.6
Consolidated Net Earnings from Continuing Operations 19.5 18.6 14.3
Gain from Discontinued Operations, Net of Tax (b)   2.9     0.7     0.5
Consolidated Net Earnings 22.4 19.3 14.8
Net (Earnings) Loss Attributable to Noncontrolling Interests   (1.6 )   (2.2 )   0.2
Net Earnings Attributable to RehabCare 20.8 17.1 15.0
Diluted Earnings per Share Attributable to RehabCare:
Earnings from Continuing Operations, Net of Tax 0.71 0.66 0.59
Net Earnings 0.83 0.69 0.61
 
Hospital Operating Revenues 181.4 164.8 152.4
Hospital EBITDA 32.0 25.1 19.7
Hospital Operating Earnings 25.9 19.2 14.3
 
SRS Operating Revenues 136.9 128.1 126.4
SRS EBITDA 9.6 8.8 11.7
SRS Operating Earnings 8.0 7.4 10.3
 
HRS Inpatient Operating Revenues 33.1 33.7 31.1
HRS Outpatient Operating Revenues   13.3     12.7     12.1
HRS Operating Revenues 46.4 46.4 43.2
HRS EBITDA 9.2 10.2 7.5
HRS Operating Earnings 8.7 9.6 6.9
 
(a)   The first quarter of 2011 includes certain transaction expenses related to the pending merger with Kindred Healthcare, Inc. of $4.8 million on a pretax basis, or $3.0 million after tax (see table on page 9). These costs have not been allocated to the Hospital, Skilled Nursing or Hospital Rehabilitation Services divisions.
 
(b) The after-tax gain from discontinued operations of approximately $3.0 million in the first quarter of 2011 includes a $3.1 million after-tax gain on the sale of an inpatient rehabilitation facility (IRF) in Miami and a $0.1 million after-tax loss from the Miami IRF’s discontinued operating activities.
 

Management Comments

John H. Short, Ph.D., RehabCare President and Chief Executive Officer, commented, “We had a great first quarter with strong year-over-year earnings growth, primarily the result of significantly improved operations and volumes in our Hospital division. The anticipated benefits of our merger with Triumph HealthCare have come to fruition.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs